Fidelity's FBTC inflow outweighs IBIT redemptions and snaps a bitcoin ETF outflow run

On Wednesday, Nov. 4, U.S. spot Bitcoin exchange-traded funds recorded $74.57 million in net inflows, ending a three-session outflow streak. Fidelity’s Wise Origin Bitcoin Fund (FBTC) took in $236.72 million, more than offsetting $201.24 million in redemptions from BlackRock’s iShares Bitcoin Trust (IBIT). IBIT’s four consecutive outflow sessions totaled $935.2 million, including a $405.3 million withdrawal on Monday, though it remained the largest such fund with $64.28 billion in net assets; FBTC had $14.15 billion. The category’s cumulative inflows since January 2024 reached $56.54 billion, and its total net assets were $102.26 billion, or 6.35% of Bitcoin’s market capitalization.